According to research conducted by Future Market Insights on the global sulfone polymers market is anticipated to grow at a steady CAGR of 5.0% during the projection period from 2022 to 2030. The global market is expected to be valued at US$ 1,278.4 Mn in 2022 and surpass a valuation of around US$ 1,888.5 Mn in 2030.
As per the historic analysis done by Future Market Insights, the global sulfone polymers market registered a year-on-year (YoY) growth of 4.8% in 2021. Despite a reasonable decline in the growth of the sulfone polymers market during the first half of 2022, the market is expected to enjoy substantial growth during the coming years.
As per the reports of Future Market Insights, the global sales of the market witnessed a growth rate of 4.7% over the first half of 2021, which is predicted to witness a decline of around 50 bps points in the growth over the first half of 2022.
Although it has been analyzed that the growth outlook of the market significantly varies across various regions including India, China, Brazil, and ASEAN witnessing higher growth outlook owing to significant growth in the end-use industries. In addition to that, the rising demand for sulfone polymers in the medical sector is expected to benefit the growth outlook of the market of Sulfone Polymers in the coming years.
Growth of the market is attributed to the increasing adoption of sulfone polymers within various end-use industries combined with key players continuously searching for ways to offer high-quality products that are expected to push sales in the sulfone polymers market.
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Taking this into consideration, FMI has forecast global sulfone polymer sales to reach a valuation of US$ 1,888.5 Mn in 2030. During the historic period, the sales of sulfone polymers surged at 3.7% CAGR between 2015 and 2021 with numerous countries such as the U.S., China, South Korea, Germany, Russia, and Canada accounting for a substantial portion of the global market share.
Key Takeaways
- All over the world, the production of vehicles has immensely increased over the last couple of years. Rapid industrialization in several regions like the Asia Pacific is predicted to escalate automotive production, which will result in elevating the demand for poly sulfones. This is attributed to their significant properties such as light weight, strength, and elasticity. Key automotive manufacturers are emphasizing cost-effective methods for incorporating polymer composites in large volumes.
- Rising government regulations on automotive fuel efficiency are pressuring OEMs in order to manufacture lightweight vehicles, which is driving the demand for high-performance polymers like poly sulfone and polyether sulfones.
- As the automotive industry expands, combined with an increase in the production of automotive, the need for efficient sulfone polymers will urge manufacturers to bolster their production and supply of the polymers.
- In order to productively cater to the growing demand for sulfone polymers, prominent market players are expanding their production capacities along with setting up new manufacturing units in the consumer electronics and appliances sector. Dominant players are further investing in research and development to provide high-quality products which are also anticipated to bolster market growth.
- Rapid industrialization, growth in the automotive sector, and growing concerns among automotive manufacturers in order to reduce the overall vehicle weight, attributed to stringent government regulations on automotive fuel efficiency are predicted to remain key factors driving the growth of the market.
- Derivatives of sulfone polymers are working on setting new standards in the aesthetics of consumer electronics and appliances, which is predicted to contribute immensely to the sulfone polymer industry. There is an upsurge in automotive production, which is also expected to bode well for the global sulfone polymers market in the forthcoming years.
Sulfone Polymers Markey by Category
By Product Type:
- Polysulfone
- Polyethersulfone
- Polyphenylsulfone
By End Use:
- Automotive & Transportation
- Healthcare
- Electrical & Electronics
- Consumer Products
- Industrial Processing
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East & Africa
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Competitive Landscape
Prominent players operating in the sulfone polymers market are concentrating on advancement in technology for developing sulfone polymers with the latest technology. In addition to this, key market players are focusing on strategic mergers and acquisitions, collaborations, and innovative product launch to serve more end users in the domestic market, in order to gain a competitive edge.
More Insights into the Sulfone Polymers Market
According to FMI projections, China is anticipated to dominate the global sulfone polymers market by creating an incremental opportunity of about US$ 70.8 Mn between the period of 2022 and 2030. China is expected to remain the key producer of sulfone polymers all over the world due to rapid industrialization in the country.
The U.S. is anticipated to account for a major share of the North American sulfone polymers market. The North American region is expected to escalate by 5.3% on a year-on-year basis reaching a valuation of US$ 402.0 Mn by the end of 2022.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
TOC continued..!
Related Links:
https://ai.ceo/read-blog/26961
https://waappitalk.com/read-blog/33629
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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